With only just one week to go before the budget, small business sits on the edge of its seat waiting to see what Gordon Brown has in store in what has become a guessing game for small business.
Since the IR591 announcement on 10th December 2003 the business community has been anticipating the potential outcome of what the ‘paying a fair amount of tax’ statement means.
Here we provide a round up of news coverage over the past month on the IR591 subject.
Adviser brands IR5.91 a 'small business levy' [08 Mar 2004]
"Irrespective of what the Chancellor chooses to call it on March 17th, we believe the government will impose what amounts to a small business levy," says Solomon Hare tax partner Kevin Slevin.
Second Parliamentary petition on IR591 [27 Feb 2004]
Liberal Democrat MP Brian Cotter has put forward another Early Day Motion (EDM) on the Government's Budget proposal, IR591, and the potential adverse impact it will have on freelancers and small businesses.
Chancellor under fire for IR591 tax terror [20 Feb 2004]
MPs and pressure groups have roundly condemned the Chancellor for his refusal to consult with UK firms over plans to introduce a controversial and potentially punitive tax regime for owner managers of small-incorporated businesses.
Small companies tricked into tax trap. [20 Feb 2004]
When chancellor Gordon Brown introduced his zero-rate of corporation tax on companies with profits below £10,000, many professional tax advisers smelled a rat.